Wolters Kluwer’s ELM Solutions has extended its best-in-class portfolio of products and services that help corporate legal and claims departments control costs while increasing revenues and improving productivity by acquiring CLM Matrix, a leading provider of contract lifecycle management (CLM) software. Wolters Kluwer disclosed the acquisition in the first-quarter 2019 trading update.
This acquisition enables Wolters Kluwer to offer a more comprehensive suite of technology solutions to address the growing need of corporate legal operations departments to increase responsibility for, and oversight of, the contracting process.
“As corporations continue to increase demands on their legal operations, our clients require a contract lifecycle management solution that aligns with our current offerings,” said Jonah Paransky, Executive Vice President and General Manager for Wolters Kluwer’s ELM Solutions. “We are thrilled to respond to our customers by delivering CLM Matrix’ solutions that provide deep contract management expertise, a strong global presence, and intuitive technology to the customer experience that will improve the legal operations workflow.”
CLM Matrix software, named a “strong performer” in the 2019 Q1 CLM Forrester Wave report, helps companies streamline the contract process. The acquisition adds technology that transforms the way companies manage their contract lifecycle to ELM Solutions’ market-leading portfolio of enterprise legal spend and matter management and legal analytics solutions. CLM Matrix offers a highly customizable, easily implemented, SaaS-based solution that works seamlessly with the Microsoft Office technology platform to automate contract initiation, creation, and negotiation from execution through to expiration. CLM Matrix gives companies insight into key performance metrics that can drive organizational efficiencies and decrease contract cycle times.
ELM Solutions will be at the 2019 Corporate Legal Operations Institute (CLOC) in Las Vegas on May 14-16, in the exhibit hall at booth 4. On May 15, Alyza Tarmohamed, ELM Solutions Senior Director for LegalVIEW® BillAnalyzer, and Scott Fuller, Senior Director of Legal Operations at Applied Materials, will present “Using AI to Super-Charge Invoice Review.” Follow us on LinkedIn and Twitter, or join the conversation using #CLOC2019.